Quote from: JayJuanGee on May 24, 2023, 09:27:01 PM

surely changes in the BTC price along the way will both affect how many BTC we are able to accumulate in a certain period of time and how it is valued (in dollars) at various points in the journey.

Absolutely correct,price of bitcoin and the value in dollars can be a big barrier for one to accumulate the actual number of bitcoin in a given period of time but nevertheless but as long as you stay focus and keeping on accumating,you will surely achieve your bitcoin goal. What matters most is your patience and understanding of the present scenario in your bitcoin journey.

Quote from: JayJuanGee on May 24, 2023, 09:27:01 PM

Another diversification mistake that people make is their believing that their investing into shitcoins is diversifying, when the overwhelming majority of shitcoins are tied to the performance of bitcoin, so the diversification is likely not real at all.. and if anyone believe that they should by some shitcoins in order to "diversify" then at least if they try to minimize the number of shitcoins that they buy, then they can at least acknowledge that they are not really diversifying into any other different industry or not as much as some folks might want to proclaim them to be accomplishing by buying various shitcoins.. merely because they are easy to buy and might not be very easy to exit.. when the shit hits the fan (or at times that you might want to exit them).

Yea,this is the problem that some investors fails to get right, that investing in shitcoin is not diversifying into a different form of assets,rather you are gambling with your investment because shitcoins will definitely depreciate to zero value if you dare try to hold for long. They think because it is easy to buy and it is a cryptocurrency that it has the same potential with bitcoin,and the worst of it is that they will even ho to the extend of selling some fraction of their bitcoin for shitcoins. The aftermath will bring regrets to those kind of people at the end of the day.

Quote from: JayJuanGee on May 24, 2023, 09:27:01 PM

Quote from: Falconer on May 24, 2023, 06:12:05 PM

it could be when the price drops a lot or it may be lower than what we expected. Having other assets as options is good, so I think it can never go wrong.

Even if any of us might be prepared for extreme situations, then we still might not be completely ready for how extreme it ends up getting.. so it could be the case that we don't disagree on this point... and sometimes diversification is merely having both cash and bitcoin rather than just bitcoin, but still if the cash runs out because you keep buying and the BTC price keeps dipping, then maybe the only thing that is left is just to wait every two weeks to figure out whether to buy and then in those situations, there might still not be comfort buying, but instead just letting the cash reserves to build up.. Everyone is going to have some slightly different ways to attempt to prepare for these kinds of matters, and some will make greater mistakes than others, and not everyone will learn from their mistakes, so it surely can be difficult to describe any kinds of exact blanket solutions, except for people to attempt ot make sure that they study their own finances and their own psychology in order to best coordinate what they are doing with those financial and psychological factors which include at least attempting to consider your cashflow, how much bitcoin you have already accumulated, your other investments (including cash reserves), your view of bitcoin as compared with other investments, timeline, risk tolerance, and your time, skills, goals (investment/lifestyle targets) and your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.

You are extremely right,for one to be able to hold for long no matter the challenges that come ahead of us,one must be prepared financially and pyscologically. You must plan or create a venue for cash inflow,so that you don't deviate from your target which is either to continue accumulating or to stop the accumulation for awhile but hold strong till the right time comes again,when you feel that you have overcome the cash inflow obstacle to start accumulating again. There must be a balance in your cash inflow and your bitcoin accumulation base on your various means of income to make sure that you don't rush out of cash and won't go to your portfolio during the dip, no matter the circumstances on ground. Because if you lack cash and see your bitcoin investment as the only alternative, you will end up selling at lost and this can even make you give up on your bitcoin investment.